Authorisation for Additional Branches: simplified document requirements allow declarations in lieu of several prior submissions. Applicants for authorisation of additional FFMC/AD Cat. II branches may submit a proprietor/partner/director/CFO certificate on Net Owned Funds instead of audited-account certificates; confidential banker reports are dispensed with; declarations about pending enforcement proceedings remain required; KYC/AML/CFT policy and internal control write-ups need only be refiled if changed, otherwise a declaration of no change suffices. The revisions take effect immediately and are issued under foreign exchange regulatory powers without prejudice to other legal permissions.
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Authorisation for Additional Branches: simplified document requirements allow declarations in lieu of several prior submissions.
Applicants for authorisation of additional FFMC/AD Cat. II branches may submit a proprietor/partner/director/CFO certificate on Net Owned Funds instead of audited-account certificates; confidential banker reports are dispensed with; declarations about pending enforcement proceedings remain required; KYC/AML/CFT policy and internal control write-ups need only be refiled if changed, otherwise a declaration of no change suffices. The revisions take effect immediately and are issued under foreign exchange regulatory powers without prejudice to other legal permissions.
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